BackDeals Buzz: CPPIB to buy 15% stake in ReNew Power for $350 million
In other news, Regal Entertainment Group is in talks for a $3.6 billion sale to UK's Cineworld Group
Premium
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
RCom to sell its Reliance BIG TV to Pantel, Veecon Media
Anil Ambani-led Reliance Communications (RCom) on Tuesday said that it will sell its direct-to-home (DTH) subsidiary Reliance BIG TV Ltd to Pantel Technologies Pvt. Ltd and Veecon Media and Television Ltd, reports Mint. Read more
SoftBank bids to acquire Uber shares at 30% discount
SoftBank Group Corp. and a group of investors are trying to buy a stake in Uber Technologies Inc. at a sizeable discount to the ride-hailing company’s $69 billion valuation, seeking to clinch what would be one of the largest purchases of stock in a private company, reports Bloomberg. Read more
IndoStar Capital calls off deal to buy ICICI Home Finance
Everstone Capital-backed IndoStar Capital Finance Ltd has called off a deal to acquire ICICI Home Finance Co. Ltd owing to synergy issues, reports Mint, citing IndoStar’s chief executive officer (CEO) R. Sridhar. Read more
Shalby’s Rs504.8 crore IPO opens on 5 December
Shalby Ltd, which runs a multi-speciality hospital chain, on Tuesday said its Rs504.8 crore initial public offering (IPO) will open on 5 December, reports Mint. Shalby has set a price band of Rs245-248 per share for the IPO, which values it at Rs2,172-2,198 crore. The offer will close on 7 December. Read more
CPPIB to buy 15% in ReNew Power for $350 million
CPP Investment Board is acquiring a 14-15% stake in Sumant Sinha-led ReNew Power Ventures Pvt. Ltd for $350 million (Rs2,250 crore), industry sources said, making the Canadian pension fund manager the third largest stakeholder in the company where Goldman Sachs holds the majority share, reports The Economic Times. Read more
Mint had reported on 14 February that ReNew Power Ventures was in talks to raise up to $100 million in promoter financing to increase his stake in the company ahead of a proposed share sale, citing two people aware of the development. Read more
PE fund Actis to invest $200 million in new NBFC platform
Global PE fund Actis is backing former Reliance Commercial Finance chief executive officer K.V. Srinivasan to start a new non-banking finance platform with an initial investment of $200 million. The company will lend to small and medium enterprises, reports The Economic Times, citing three people with direct knowledge of the development. Read more
Indian Railways to raise Rs35,000 crore more in FY18
Indian Railways is looking to raise more than Rs35,000 crore in addition to its budgetary resources in this financial year, primarily to procure safer passenger coaches and electric railway locomotives, and pushing the network electrification and signalling modernisation programme, reports The Economic Times. Read more
Shriram Properties may raise Rs1,000 crore from ASK
Shriram Properties is in talks with private equity firm Ask Group to raise about Rs1,000 crore for setting up a platform, which will buy out distressed assets from builders who have been negatively impacted due to demonetisation and the implementation of RERA, according to people familiar with the matter, reports The Times of India. Read more
Arihant to invest Rs4,000 crore on 15 ongoing housing projects over six years
Real estate firm Arihant Superstructures will invest about Rs4,000 crore over the next six years on the construction of its 15 ongoing projects in Navi Mumbai and Jodhpur, PTI reports, citing a top company official. Read more
Regal Cinemas in talks for $3.6 billion sale to UK’s Cineworld
Regal Entertainment Group, the movie theatre chain controlled by billionaire Philip Anschutz, said it’s in talks for a $3.6 billion sale to the UK’s Cineworld Group Plc, a deal that would create a bigger international rival to industry leader AMC Entertainment Holdings Inc., reports Bloomberg. Read more
Paytm aims to become world’s largest digital bank
Paytm Payments Bank is targeting to become the world’s largest digital bank with 500 million bank accounts and aims to turn into an integrated financial services company that offers everything from wealth management to share trading, Bloomberg reports. Read more
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
